BP starts pumping crude at major deepwater Gulf of Mexico project

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP +1.1%) says it has begun pumping crude from a new well at one of its four major deepwater hubs in the Gulf of Mexico, the second major startup in the region this year.

The new well at the Na Kika semi-submersible platform is the third of six BP oil production projects slated to come online this year, part of a multibillion-dollar investment that could help lift Gulf production past its previous peak of 1.8M bbl/day in two years.

BP operates and owns a 50% stake in Na Kika project, while Royal Dutch Shell (RDS.A, RDS.B) owns the other half; the two companies also are working together on Shell’s deepwater project in the Mars B field, the first major upgrade in the Gulf this year.